Comcast announced plans to spin off most of its NBCUniversal cable networks, including MSNBC, CNBC, and USA, as streaming services increasingly dominate the entertainment landscape. The move, part of a tax-free spin-off expected to take a year, will see Comcast retaining key assets like Peacock, its theme parks, and its film and television studios. The decision reflects the challenges faced by traditional TV networks, which have seen profitability shrink due to rising production costs and shifting viewer habits favoring platforms like Netflix.
Analysts predict private equity firms or large media conglomerates as likely buyers, with private equity poised to cut costs and extract remaining value from the networks. The spin-off marks a stark contrast to Comcast’s earlier investments in NBCUniversal, which once symbolized a thriving media empire. Mark Lazarus, current chairman of NBCUniversal’s media group, will lead the new venture as CEO, alongside Anand Kini as COO and CFO.
This shift highlights the media industry's evolving priorities as legacy cable networks lose ground. Paramount Global recently merged with Skydance Media, while Warner Bros Discovery and Disney have also reevaluated their cable TV assets. The divested NBCUniversal channels collectively generated $7 billion in revenue over the past year, but Comcast is pivoting toward its more profitable and future-oriented businesses to stay competitive in the streaming-first era.
